Taming Shadow Banking Stalls in Wenzhou One Year After Suicides

Qilai Shen/Bloomberg

A pair of broken shoes sit on a hill overlooking an area known as Xie Du, or shoe capital, in Wenzhou. As more than 400,000 small businesses ranging from eyewear makers to cigarette-lighter exporters struggled, Wenzhou’s economy expanded 5.7 percent in the first nine months of 2012 compared with 7.7 percent nationwide, government data show.